Deep Tide TechFlow news, on August 23, the website of the Hong Kong University of Science and Technology Business School published an article titled 'Opportunities and Challenges of Offshore Renminbi Stablecoins.' The article points out that the development prospects of offshore Renminbi stablecoins are determined by three factors: usage demand, underlying asset supply, and policy and regulatory support. In terms of demand, the main application of Renminbi stablecoins in the future will focus on cross-border payments. Stablecoins can leverage their technical advantages of high payment efficiency, low cost, and convenient procedures to serve the real economy. Data shows that in 2024, the annual cross-border receipts and payments of Renminbi under the current account will reach 16 trillion yuan, which is eight times the total market value of the two major stablecoins, USDT and USDC. In the medium to long term, this enormous settlement volume is expected to gradually shift towards stablecoins.